Despite concerns that Apple’s phenomenal growth would start slowing, the company has again defied the pessimists and posted a huge second quarter.
The company’s success continues to be defined by the iPhone series of smartphones. Apple sold 35.1 million across this second quarter 2012 (ending March 31), just 2 million short of the previous quarter – which included the Christmas holiday season.
The equates to 88% growth in iPhone sales over this quarter last year, boosted by the successful launch of the iPhone 4S in October last year.
The Company posted quarterly revenue of $39.2 billion and quarterly net profit of $11.6 billion – an increases of 94% Year-over-Year. These results compare to quarterly revenue this time last year of $24.7 billion and net profit of $6.0 billion.
The company drew $14 billion in cash flow from operations, effectively cancelling out the $10bn dividend CEO Tim Cook announced last month, and rebuilding Apple’s enormous cash pile.
Apple also sold 11.8 million iPads during the quarter, a 151 percent unit increase over last year’s quarter – which is slightly short of expectations. This will still consist mostly of iPad 1 and 2’s, given ‘The New iPad’ launched (iPad 3) on March 7, too late into the quarter for its effects to be felt too dramatically. It still managed to sell 3 million units in the first week of its release despite supply shortages, but has seen some controversy over its 4G claims in non-North American territories. It is possible that the iPad 3 caused an Osborne Effect, hampering sales of earlier models.
"We’re thrilled with sales of over 35 million iPhones and almost 12 million iPads in the March quarter," said Tim Cook, Apple’s CEO. "The new iPad is off to a great start, and across the year you’re going to see a lot more of the kind of innovation that only Apple can deliver."
Cook appears to be continuing Jobs’ legacy, and was recently (and controversially) declared ‘the world’s most beloved CEO‘.
Apple also also sold 4 million Mac PCs (up 7%), and saw a decline in iPod sales, which sold 7.7 million, down 15 percent from the year-ago quarter.
Apple’s CFO Peter Oppenheimer has already projected third quarter revenue of around $34 billion.